USDJPY Analysis, July 7th 2010

By IBT Staff Reporter On 07/07/10 AT 5:21 AM

USDJPY formed a cycle bottom at 86.96 level on 4-hour chart. Range trading between 86.96 and 88.76 is expected. Key resistance is at 88.76, a break above this level will indicate that the fall from 92.88 has completed at 86.96 already, then further rally could be seen to 90.00-91.00 area.